MIRA
INFORM REPORT
|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADMARK POLYCOATS PRIVATE LIMITED (w.e.f.
06.09.2006) |
|
|
|
|
Formerly Known
As : |
ADMARC POLYCOATS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 207, Village Luna, Taluka Padra, Vadodara – 391440, |
|
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|
Country : |
|
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.07.2002 |
|
|
|
|
Com. Reg. No.: |
04-040987 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24224GJ2002PTC040987 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA00820B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA7427K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer and
Exporter of all kinds of Epoxy – Hardeners, Specially Epoxy Resins and
Epoxy Diluents. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Not Available |
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|
Comments : |
Subject is an established company having satisfactory track record. There is a dip in sales and profit of the company in the year 2013. However,
liquidity position of the company is strong as there are no external
borrowing recorded by the company. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation
arrested Manumeethi Cholan
after he accepted Rs 10 lakhs
as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central
Bank of Rs 4360 mn.
Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has
chosen India to pilot its e-commerce business model for the Asia-Pacific
region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real
estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs
7700 mn of loans and sought more time to comply with
the requirements under the listing agreements with the Stock Exchanges.
OnMobile likely to sack another 300 employees. The lay-offs
follow a spate of senior-level exits over the past two years, starting with of
its founder. The overall lay-offs could number around 600 and are driven by the
need to cut costs, says a former employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term issuer rating: BB (withdrawn) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
26.06.2014 |
|
Rating Agency Name |
FITCH |
|
Rating |
Non fund based : A4+ (withdrawn) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
26.06.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Paresh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-2662-221586 |
|
Date : |
04.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 207, Village Luna, Taluka Padra, Vadodara – 391440, |
|
Tel. No.: |
91-2662-221587 |
|
Fax No.: |
91-2662-225187 91-265-2337022 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Bharat Punjalal
Chokshi |
|
Designation : |
Director |
|
Address : |
22, Shanti Nagar
Society, |
|
Date of Birth/Age : |
08.05.1958 |
|
Date of Appointment : |
22.07.2002 |
|
DIN No.: |
00111725 |
|
|
|
|
Name : |
Ms. Anita Bharat Chokshi |
|
Designation : |
Director |
|
Address : |
22 A, Shanti Nagar
Society, |
|
Date of Birth/Age : |
20.11.1961 |
|
Date of Appointment : |
15.07.2007 |
|
DIN No.: |
01654486 |
|
|
|
|
Name : |
Mr. Kirtikumar Narayan
Aras |
|
Designation : |
Additional Director |
|
Address : |
3/151, Shrikrishna Darshan, Garodia Nagar, Ghatkopar (East), Mumbai
– 400 077, |
|
Date of Birth/Age : |
29.07.1939 |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
02659069 |
KEY EXECUTIVES
|
Name : |
Mr. Paresh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Bharat Chokshi
and Family |
709100 |
70.91 |
|
Aditi Bharat
Chokshi |
50000 |
5.00 |
|
Amishi Bharat
Chokshi |
50000 |
5.00 |
|
Ankur Bharat
Chokshi |
190900 |
19.09 |
|
Total |
1000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of all kinds of Epoxy – Hardeners, Specially Epoxy Resins and
Epoxy Diluents. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
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|
Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Epoxy hardener |
M.T. |
NA |
7000 |
5165 |
|
Total |
|
NA |
7000 |
5165 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Not Divulged |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Parikh Mehta and Associates Chartered Accountants |
|
Address : |
Happy Home Apartment No.2, 10, Sampatrao
Colony, |
|
Tel. No.: |
91-265-6581665/ 2338100 |
|
Mobile No.: |
91-9426019863 |
|
Fax No.: |
91-265-3057834/ 3057834 |
|
Income-tax
PAN of auditor or auditor's firm : |
ADEPP3918K |
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|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
|
|
|
|
Associates: |
Grandpolycoats Private Limited
|
|
|
|
|
Other related party: |
Bharat Chokshi and
Family Trust |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1150000 |
Equity Shares |
Rs.10/- each |
Rs.11.500 millions |
|
160000 |
12% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.16.000 millions |
|
|
Total |
|
Rs.27.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each
|
Rs.10.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
200.627 |
167.626 |
119.530 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
210.627 |
177.626 |
129.530 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
6.565 |
5.739 |
4.657 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
6.565 |
5.739 |
4.657 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
15.135 |
51.672 |
|
(b) Trade payables |
49.474 |
72.101 |
94.115 |
|
(c) Other current liabilities |
5.168 |
7.307 |
11.171 |
|
(d) Short-term provisions |
2.780 |
5.113 |
2.368 |
|
Total
Current Liabilities (4) |
57.422 |
99.656 |
159.326 |
|
|
|
|
|
|
TOTAL |
274.614 |
283.021 |
293.513 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
70.629 |
70.891 |
65.216 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.004 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.653 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
70.629 |
70.891 |
65.873 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
60.324 |
26.002 |
28.694 |
|
(c) Trade receivables |
73.547 |
134.963 |
177.935 |
|
(d) Cash and cash equivalents |
61.542 |
36.696 |
13.307 |
|
(e) Short-term loans and
advances |
8.338 |
14.087 |
7.504 |
|
(f) Other current assets |
0.234 |
0.382 |
0.200 |
|
Total
Current Assets |
203.985 |
212.130 |
227.640 |
|
|
|
|
|
|
TOTAL |
274.614 |
283.021 |
293.513 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
454.900 |
587.249 |
585.807 |
|
|
Other Income |
14.428 |
17.835 |
7.205 |
|
|
TOTAL
(A) |
469.328 |
605.084 |
593.012 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
313.548 |
412.300 |
414.671 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.353) |
(0.351) |
(0.111) |
|
|
Employees benefits expense |
20.434 |
13.814 |
9.221 |
|
|
Other expenses |
95.143 |
100.083 |
103.208 |
|
|
TOTAL
(B) |
416.772 |
525.846 |
526.989 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
52.556 |
79.238 |
66.023 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.232 |
3.319 |
4.931 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.324 |
75.919 |
61.092 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
3.852 |
3.559 |
3.287 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
48.472 |
72.360 |
57.805 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
15.470 |
24.264 |
15.659 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
33.002 |
48.096 |
42.146 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
136.840 |
88.744 |
46.598 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
169.842 |
136.840 |
88.744 |
|
|
|
|
|
|
|
|
F.O.B. Value of
Exports |
NA |
527.068 |
531.401 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
175.418 |
184.318 |
|
|
Capital Goods |
NA |
0.000 |
0.946 |
|
|
TOTAL
IMPORTS |
NA |
175.418 |
185.264 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
33.00 |
48.10 |
42.15 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
7.25 |
8.19 |
7.19 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
11.55 |
13.49 |
11.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.65 |
25.57 |
19.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.41 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.09 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.55 |
2.13 |
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
119.530 |
167.626 |
200.627 |
|
Net
worth |
129.530 |
177.626 |
210.627 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
51.672 |
15.135 |
0.000 |
|
Total
borrowings |
51.672 |
15.135 |
0.000 |
|
Debt/Equity
ratio |
0.399 |
0.085 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
585.807 |
587.249 |
454.900 |
|
|
|
0.246 |
(22.53) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
585.807 |
587.249 |
454.900 |
|
Profit |
42.146 |
48.096 |
33.002 |
|
|
7.19% |
8.19% |
7.25% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATION REVIEW
AND FUTURE PROSPECTS
The income from operation for the financial years. 454.900 Millions as
against Rs. 587.249 Millions for the previous
financial year. The profit before interest and depreciation for the financial
year is Rs. 52.387 Millions as against Rs. 79.155 Millions of the previous financial year.
During the year, India’s economic situation continued to decline due to
depreciation in INR, high inflation rate, rising crude oil prices and increased
interest rates, which adversely affected the business. The industry also faced
the problem of margin pressure and in fact the company had to compromises with
low margin due to higher material cost and at the same time reluctance from
customers to digest the price rise.
FUTURE OUTLOOKS
It is expected that the company will register substantial growth in
coming year. The company has built up a solid foundation and it will scale
heights in the years to come.
CORPORATE
INFORMATION
Subject is an ISO 9001:2008 company and a leading manufacturing and
exporter of all kinds of epoxy Hardeners, specially Epoxy resins and Epoxy
Diluents. It is established in the year 1999. Over the years, the company has
set new bench marks in process, technology, product quality and systems. Today
the Admark has emerged as one of the leading suppliers
of low temperature curing Hardeners to leading multinational companies round
the globe.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10508527 |
26/06/2014 |
60,000,000.00 |
CITI BANK N.A. |
1ST FLOOR, PELICAN, ABHISHEK COLONY, OPP. RACE COURSE TOWER, GOTRI ROAD, BARODA, GUJARAT - 390007, INDIA |
C10934016 |
|
2 |
10306974 |
12/09/2011 |
22,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B20871299 |
|
3 |
80047402 |
09/06/2010 * |
60,000,000.00 |
UNION BANK OF INDIA |
SAYAJIGUNJ BRANCH,
SAYAJIGUNJ, VADODARA, GUJARAT |
A86975448 |
|
4 |
80047403 |
09/06/2010 * |
60,000,000.00 |
UNION BANK OF INDIA |
SAYAJIGUNJ
BRANCH,,SAYAJIGUNJ, VADODARA, GUJARAT |
A86975737 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer Equipment
·
Furniture and Fixtures
·
Office Equipment
Intangible Assets
·
Pattern and Trademark
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for
violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUB |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory
capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.